From Aerospace to Automotive Industries: The Growing Applications of Chromium Carbide Coatings - A Comprehensive Study of the Global Market Dynamics

Chromite carbide is the subject of a recent report from Persistence Market Research. "Chromium Carbide Market: Global Industry Analysis 2013-2017 and Forecast 2018-2026" is the title of the report. The market for chromium carbide is projected to create new dollar opportunities with a growth rate that is relatively moderate. It is projected that chromium carbide will be used in higher value applications as a result of somewhat complicated production processes and correspondingly higher prices. Furthermore, there are a number of small and medium-sized competitors participating in the chromium carbide market in addition to the relatively small number of major worldwide firms.

In order to stay competent in the market, the players in the market are adopting several differentiating strategies. The companies in the market are strengthening their product portfolio by concentrating on certain strategic acquisitions and mergers that are intended to leverage the strength of the product of the company that has been acquired. Other than this, gaining access to the leading clients in core industries such as power, oil and gas, and mining is likely to emerge as a noteworthy strategic approach.

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According to the PMR analyst, "The global chromium carbide market is expected to increase at a CAGR of 5.9% from 2018 to 2026. In 2017, the market was worth US$ 123.3 Million and is expected to touch a valuation of US$ 206.7 Million by the end of 2026."

Company Profiles:

OC Oerlikon Corporation AG, Pfäffikon
H.C. Starck GmbH
Praxair S.T. Technology, Inc.
Sigma-Aldrich Co. LLC.
Alfa Aesar
Strem Chemicals, Inc.
Changsha Langfeng Metallic Material Co.,Ltd.
Reade International Corp.
NewMet Ltd.
ESPICorp Inc.
Nanoshel LLC
LTS Research Laboratories, Inc.
American Elements
Inframat Corporation
ZhuZhou GuangYuan Cemented Material Co., Ltd
Others.

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Consumption in Welding Electrode Applications to Augur Well for the Market

The use of chromium carbide in welding electrode applications presents considerable advantages. For instance, the deposited weld metal could be ground and is highly resilient to abrasive wear with moderate impact and is suggested for general hard facing applications on carbon steels, manganese steels and cast iron. Deposits are restricted to two layers to eradicate relief checks. Such welding electrode application advantages make chromium carbide a preferred choice for general hard facing applications on alloy steel, carbon steel, and cast iron parts. Unique components which are subject to such welding are dredger buckets, dragline teeth, bulldozer cutting edges, excavator shovels and agricultural implements.

Lately, chromium carbide has been finding key industrial applications in areas where wear resistance caused by abrasion, cavitation and particle erosion at high temperatures drastically reduces the life of an equipment. Chromium carbide surfacing has been found to resist oxide pick-up in high temperature atmospheres for steel production. Chromium carbide powder also has been finding increasing applications in areas where the coated part needs to function in an environment with moving solid particles and corrosive or erosive gases.

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Unfavorable Features to Dampen Market Growth

Chromium carbide based cermets though find multiple applications on account of their special characteristics such as high levels of hardness of chromium carbide-nickel cermets, also display some undesired features such as comparatively poor mechanical properties. Moreover, in the case of certain stabilized stainless steel grades, chromium carbide has been found to be harmful to the corrosion resistance property of stainless steels. These dynamics, to an extent, have been restricting the use of chromium carbide, thereby dampening the market growth.

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